NEW ORLEANS, June 19, 2006 (PRIMEZONE) -- Kahn Gauthier Swick, LLC ("KGS") announces that it is reviewing new allegations related to its securities class action currently pending against Vonage Holdings Corp. (NYSE:VG) in a New Jersey federal court in light of today's news that Verizon Communications, Inc. has sued Vonage for patent infringement. KGS encourages all institutional investors, hedge fund or money managers or other large individual investors that have suffered a loss related to their investments in Vonage, to seek counsel.
IF YOU ARE AN INSTITUTIONAL INVESTOR OR IF YOU HAVE SUFFERED A SIGNIFICANT LOSS RELATED TO YOUR INVESTMENT IN VONAGE, YOU ARE ENCOURAGED TO CONTACT KGS IMMEDIATELY AT 1-866-467-1400, ext. 100.
KGS' suit against Vonage alleges that the Company and certain named officers and underwriters violated the federal securities laws by publishing a materially false and misleading joint Registration Statement and Proxy-Prospectus in connection with its May 24, 2006 IPO. As the result of today's news, KGS is reviewing Verizon's allegations that Vonage is infringing on at least seven of its patents regarding Internet phone service, a technology known as voice over Internet protocol, or VoIP. KGS seeks to determine whether Vonage published materially false and misleading information in its Registration Statement and Proxy-Prospectus relating to the issues alleged in the Verizon suit. As the result of today's news, Vonage stock dropped 12 percent in trading Monday to reach a 52 week low, further hammering Vonage investors' already significant losses.
If you purchased shares of Vonage and wish to discuss your legal rights, you may e-mail or call KGS, without obligation or cost to you. You may contact Lewis Kahn of KGS toll free 1-866-467-1400, ext. 106, or by email at lewis.kahn@kglg.com. Further information is available at http://www.kglg.com/case/case.asp?lngCaseId=4830.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca